Palatino is the work of Hermann Zapf, a calligrapher by training. Many of his fonts reflect this influence. But the Palatino system font is a harsh representation of Zapf’s original design. Palatino Nova is Zapf’s own reworking of Palatino that restores its original subtlety.
Despite the name, Iowan Old Style is also based on Italian Renaissance typography, though more loosely. Though Lyon is based on French models rather than Italian, it shares Palatino’s sharp, incised look.
I’ve always liked Palatino a lot. But the decades of abuse and misuse have dimmed the novelty it once had. I designed Valkyrie as a hybrid of Aldus, a book face that Zapf derived from Palatino, and Trump Mediaeval, a text face by Zapf’s contemporary Georg Trump, another fantastic calligrapher-turned-type designer.